Yen jumps to 158 vs dollar as BOJ lifts June hike expectations

Hawkish inflation projections and a split vote surprise markets

Japanese Finance Minister Satsuki Katayama says Tokyo stands ready to take "strong measures" against speculative market moves. (Nikkei montage/Source photos by Kazuho Fujiwara and Ken Suzuki)

TOKYO -- The Japanese yen swung higher against the dollar on Tuesday afternoon and hit the 158 level after the central bank flagged a higher inflation outlook while keeping policy rates unchanged at 0.75% at the end of its two-day meeting.